Page 4 Advertisements Column 1

Auckland Star, Volume LIX, Issue 255, 27 October 1928, Page 4

|?" te , <l at Auckland this 27th day of September. 1928 Filed with the Registrar of Companies at Aucldan«L Abridged Prospectus of HOTEL TITIRANGI, LTD. A Public Company, incorporated under "The Companie. Act 1908" CAPITAL - £50,000 DIVIDED INTO 50,000 SHARES OF £1 EACH. Of these 2250 are being allotted as being fully paid to the Vendo consideration of the sale by the Vendor to the Company as h* mentioned and to the Promoter. ere n>Wter 10,000 Shares are to be held in reserve for future issue, and 37 750 SV« are now being offered to the public for subscritpion on the fnlW:™ terms:— »®U«»ing 2/- per Share on application. 2/- per Share on allotment, and the balance in calls • , but not exceeding M 2/- per Share at intervals of not less than 2 months. Board of Directors: JAMES EDWARD DAY KEMP, 31, Hamilton Road, Ponsonbv SettU WILLIAM ALEXANDER BISHOP, Titirangi. Store Manager. GIDEON LUND, Calliope Road, Devonport. Hotel Manager. JOHN EDWARD ELLIS, Avondale Road, Avondale, Gentleman. Bankers: THE NATIONAL BANK OF NEW ZEALAND. LIMITED. Auckland. Solicitor: W. R. P. MOODY, 102, Victoria Arcade, Queen Street, Auckland. Architect: W. S. R. BLOOMFIELD, Yorkshire House, Shortland Street. Auckland. CHAMBERS, WORTH AND CHAMBERS, Shortland Street. Auckland. Interim Secretary: R. N. S. CHISHOLM, Yorkshire House, Shortland Street, Auckland OBJECT OF THE COMPANY. The Memorandum of Association printed with this Prospectus sets out in «!•» -i the objects for which the Company is to be established. It is proposed to nmrlt the block of land described in a later paragraph and to erect oil it "a Hotel. nvrtT culars of which also appear under a subsequent heading. To this end an •ntH'* has been secured In the name of Mr. R. X. S. Chisholm as Trustee for the Coman and will be exercised hy the Company as soon as convenient after incorporation Tb option can be inspected during ordinary business hours at the office of the -Intarir Secretary. Ei Plans of the proposed bnildintr have been prepared by Mr. W. s E BloomfleM of the Yorkshire House, and need no introduction to the Auckland public A nrosMttir view of the buildin? as it will appear when completed, together with various oorHnn° of the plan, are reproduced in this Prospe-- u«. uong SITE AND POSITION. The general locality of the site is well shown hy the accompanying plan *hU / presents in a striking manner the importance of the position secured" It 'win noticed that all roads converge at this point, consequently a larjrc volume of liotidar and week-end traffic, as well as a smaller stream during the week, must all mm rijrht by the Hotel on its way to the beaches. Atkinson Park. Huia. Cornwsffi* V Ijaiugliolm. Exhibition Drive. Kaurilands. and Mt. Atkinson. The Titirangi Golf Links are within two miles of the site on the City side. The actual piece of land concerned slopes from a higher road to a lower wMrt is parallel. Thus there will be two road frontages. This' is a feature of which «reat advantage can be taken. The upper road will brinsr vehicles to the main door oftk. Hotel, while the lower one will provide access to the large garage spare beneath building, with the result that the guests will have most convenient accommodation for their cars. A balustraded terrace will extend over the basement area as far-as the lower road boundary, and will afford an ideal position for open-air teas The terrace will command almost limitless views over the Manukau and the adjoining bills. ACCESSIBILITY. > The notel site at the present time is easily reached bv car within half an hour from the Post Office, and although the last miles approximately are not concreted the road has now been taken over by the Highways Board, and an "agreement as to the concreting of this last portion has been agreed to. There will then be a perfect roa.l from the Hotel to the City, and the trip should occupy little more than.2o inlnntes The importance of this cannot be exaggerated. It means that the business tn.rj possessing a car will he in town as quickly as the ordinary suburban dweller, and that the Hotel will be able to claim to eomhine all the advantages of town and eonntTv VIEWS. From the site itself the view extends over the Manukau TTarbour to the Heads and to the hills on the far side. On the near side, at one's feet as it were, a deep gorjc covered with heavy and absolutely unspoiled native bush, runs down to the Harbour and opens on to a beautiful bay. closed in on both sides by wooded promontories. Both a motor road and a zig-zag footpath have been cut through the gorge to the bay, and provide a drive or walk unequalled by any other within a convenient distance of Auckland. Looking further to the West the eye follows for miles along the hills on the Northern shore of the Harbour, up past Cornwallis to the Heads: while still further to the North, the country builds up on to the Ranses of the Waitakeres. which convey a sense of isolated grandeur, making it almost impossible to believe that one is less* than half an hour's drive from the heart of the City. A ten-minute walk brings one to the top of Mt. Atkinson, from which there is an uninterrupted view in all directions. To the West one sees the breakers on the Manukau Bar: to the North the majestic Ranges of the Waitakeres and the upper reaches of the Waitemata: to the South' the Manukau and beyond to the Waikato Country and Pnkekohe Hill. To the East, the City lies spread out, while beyond it are the three peaks of Rangitoto. and in the far distance the blue hills of Coromandel. OTHER ATTRACTIONS. Golf Links: Titirnngi Treasure House (an interesting and unique Native Museum): Walks and Picnics. Bathing. Boating, Fishing, Sports and Recreation—outdoor and in the Hotel itself. THE HOTEL. The Vendor has on numerous occasions received applications from tourists and others for accommodation, but none has hitherto been available at Titirangi. There should be no doubt that when it is known what kind of Hotel is being built, providing the best in both winter and summer accommodation, there should be no difficulty in keepine the Hotel filled to a payable capacity. Considerinc the fact that the HOW will offer only the best of accommodation and service, the tariff of £1 per day is reasonable. FINANCIAL—SUMMARY. Estimated Capital Expenditure.—Tlie capital expenditure for the first year Is estimated as follows :— Purchase Price of Land and Business Ci.Ofift O O Cost of Building and Lay Out. complete ?>".<**» 0 O Architects' Fees 2.275 0 0 f.egal and Preliminary Expenses 7«">0 " ° Brokerage on "7.7">0 Shares at 71 per cent 2.531 5 0 Hotel and Kiosk Furnishings, complete 2.A2R 0 ft Hotel and Kiosk Table Service. Crockery, etc.. complete 2.<">72 O O Promoters" Shares. Extras, say 2"> f > n 0 r.i.ssr, 5 o Less Amount of Mortgage l-'.OOO O O fncojij 5 O The authorised capital will be f-WOCX NOTES ON THE ABOVE. fat Cost of Building.—This is the maximum figure as estimated by the Architects. Mil Architects. —These are based on the usual rate of fil per cent on the estimated contract price. (c) Legal and Preliminary.—These arc made nn as follow:— Costs of incorporation, including preliminary contracts. option. stamp duty, etc fW' Expenses relative to raising of Mortgage of including procuration 1 per cent 2^Vl Cost of prospectus, printing, etc 130 £7<TO fd> Brokerage —The first issue will be shares: of these 2250 are beiߣ allotted as mentio' •! above to the Vendor in part payment of purchase money, and this will leave 57.7-"-'i Shares on which brokerage will be paid. (e) Furnishings, Table Service, Crockery, etc.—The estimate for these is basefl on quotes by leading city firms. The quotes may be seen durins business bours at the office of the Interim Secretary. (D Fully-paid Shares. ESTIMATED ANNUAL RECEIPTS. (For details see below^. Hotel Tariff, ner annum £13.570 n O Casual Meals, per annum 912 10 0 £14.7*2 10 0 Less Estimated Expenditure, as below 10.407 0 0 4.r.", 10 o Net rroflt. per annum, from tearooms lo.<W» O O Net Profit per annum from Store S'X) 0 0 Soft Drink Bar. Store on Beach. Hot Water. Ice Cream. Confectionery, etc T»oft 0 0 7.17 T. IO O l ess Income Tax. at nil approx 1.405 511 Til 1 r~.770 4 1 nils siiows a net return on paid capita! of £40.0tt> of 14 7."! per cent. GENERAL SUMMARY. points •— ,nS ' ( ' Pr ' n: " "'' s Proposition the investor should bear in mind the foliowlßf 1a * ™ s -V" 1 first attempt to establish near Auckland a luxurious hotel 0® lines of tli#* houses in tlic Blue Mountains of New South Wales, ofh» r parts of the world. •ri ie the mo«t suitable one within reach of Auckland. <ej jne hotel will have a universal appeal to tourist« to Auckland people wishia* ° n week end in the hills, and to business who wish to be handy to the city, and to many others. «d> The bigrsrest financial obstacle in the way of establishing most hotels, namely, an expensive block of city land, does n«»t appear in the present schema. NAMES, ADDRESSES AND DESCRIPTIONS OF DIRECTORS - are already set forth herein. MINIMUM SUBSCRIPTION. i« m 1 subscription on which the Directors mav proceed to allotment li shares. 1 „. ~ . PRELIMINARY EXPENSES. fiYxi i1 11 " ;1 '? oxpr " so * fWhich do not include commission or brokerage! I* the Company " tG "' C ' noor l' or;1 tir ' n °f the Company, and is to be borne by SHARES ISSUED OTHER THAN FOR CASH. for omlTi, ™' S ~ rt 1,0 by the Companv a* fullv paid up. otherwise than lIS nron "f shar *? " s P"rt payment of tbe purchase money, and 2-V> shaw* shared.™ 7\ h Vendor. and the holder or holders of such 10 entitled to dividends along with the other shareholders. T . , MATERIAL CONTRACTS. lie only material contracts nfTeetin- the Comnanv are: — tie,«een ni ,A rc,ll,so - <l«ited the Jl-t da'v of September. 102*. and made Selm-in rh i ? U °, M l n,lor Bishop, of Titirangi. of the oi.e part, and Royston N<*l i)ther part Auckland, as trustee for ;ln ,i on behalf ..f t: ; e Company, of the !liav C he!''? said Contracts and of tl.e Me, n d„ m .i,,,! Angles of AssocUtioa time during business hon?s ° f th<! r ° mpan - v or " f ,1 "' S( ' lici!or 8t My Tt.e BROKERAGE. Shares i"'1 y Pa L 1,rokor;1 " 0 not exeee.linir 7? p.-r ••!! the account of n leirt confident• " ' >rokpr:l ~ p will be paid upon shar<-« .ilb-tted to the Vendor n part consideration ot the purchase price. Mr « * „ P ,RECT ORS' INTERESTS IN COMPANY. •>f liw intnr/t.i 's interested in tbe promotion of the t'ompanv to the extent biN interest as A endor t ° the Company. irnn ( .rir°. l "k Hirecto.- has any interest in the promotion ..f the Company •or the the Company a< * ,! " lro<l bv ir - except his interest as a c-mrihutery shareholder M i noli , HOW TO APPLY FOR. SHARES. niit If ml l'" , T shnros should be made on the form a.-compai.vini: the rrospectn^ , w ' ,h Sectary of the Companv. : „id iniKt )•? accompanied 'he amount payable on application: Seorntary, j HOTEL T ,t IRANG|, limited, 95-86, Yorkshire House, ] . Shortland Street. AUCKLAND. ' - I lease send me. without obligation. Prospectus. l";il! intoniMti'-n. and ! "nn of Application for Shares. I , , u , I Address L